Can a new government fund to boost investment in innovative start-ups actually help Britain's beleaguered economy, asks Simon Wilson?
What's the new fund all about?
The UK Innovation Investment Fund (UKIIF) will be "bigger than other European venture capital funds", claims the science and innovation minister, Lord Drayson. The aim is to make it easier for start-ups in key sectors, such as life sciences, low-carbon technologies and digital and advanced manufacturing, to get access to equity funding. The new fund will help British scientists and entrepreneurs convert their ideas into flourishing businesses. Once a management team is in place (the government is currently considering tenders) UKIIF will operate as a 'fund of funds', channelling money into other venture capital funds and thus, it hopes, fostering "a climate of innovation and enterprise in the UK and Europe".
Can a new fund revive Britain's manufacturing? - MoneyWeek
